Crypto News Digest by U.Today

U.Today has prepared the top three news stories over the past day.

Solana (SOL) to plunge to $20, Bitcoin maximalist Keiser believes

Yesterday, Jan. 3, Max Keiser, prominent Bitcoin evangelist, took to X platform to once again slam the Solana (SOL) token. Keiser shared a screenshot showing SOL’s price going down by 15.8% over the previous 24 hours, which made him suggest that the token might soon see a dramatic decrease in its value, dropping to as low as $20. SOL is not the only altcoin that is criticized by Keiser — XRP and ADA have also fallen into BTC maximalist’s disfavor after the SEC’s statements about them allegedly being securities last year. At the moment of writing, Solana (SOL) is changing hands at $102.56, up by 5.33% over the past 24 hours, per CoinMarketCap data.

XRP to $0.7? Price makes unexpected move

According to the XRP/USDT chart, XRP appears to be preparing for a significant price increase. Currently, the asset is positioned at the tail end of a descending triangle. However, XRP has unexpectedly broken through the upper boundary of this pattern. This move may be seen as a bullish indicator, suggesting a shift in market sentiment and possibly serving as a catalyst for a rise toward the $0.7 level. The breakthrough also indicates that buyers are gaining strength and could drive the price up. This is especially likely to happen if the breakout is accompanied by a rise in trading volume, which would add credibility to the move.

Shiba Inu (SHIB) warning alert: Shibarium eyes dramatic changes in 2024

The year of 2024 has started with an unexpected drama for Shiba Inu’s Layer-2 solution, Shibarium. According to the latest data provided by Shibariumscan, yesterday, the number of Shibarium’s daily transactions dropped to 4.91 million, the lowest in over a month. This descending trend started on Dec. 29, seeing a 23% decline over the subsequent two days. The new year brought no respite as Shibarium’s key metric continued its descent, recording a further 15.1% drop since the beginning of 2024. Seeing the sheer numerical scale of these declines, involving millions of transactions, the Shiba Inu community is becoming more and more concerned. Although Shibarium has previously experienced significant declines in transaction volume, this plunge is unprecedented in both its magnitude and rapidity.